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April 19, 2014

Homework Help: math

Posted by Vanessa on Friday, December 16, 2011 at 5:13pm.

You receive $12,000 and looking for a bank to deposit the funds. Bank A offers an account with an annual interest rate of 3% compounded semiannually. Bank B offers an account with 2.75% annual interest rate compounded continuously. Calculate the value of the two accounts at the end of the year and recommend.

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